What is Invoice Discounting?
Invoice Discounting is funding that helps your business with cash flow, while you are waiting for your invoices to be paid out to you.
How does Invoice Discounting work?
Invoice Discounting is fairly simple, you as a business receive an advance in funding based on your confirmed invoices. This financial advance will help you cover your cash flow issues while you wait for your client to pay out. Allowing your business to keep moving forward.
What are the benefits of Invoice Discounting?
Invoice Discounting helps businesses maintain a cash positive balance and provides working capital while you wait for your client to pay you for services rendered.
Is your business a good fit for Invoice Discounting?
Invoice Discounting is ideal for small to medium-sized businesses experiencing cash flow challenges after servicing orders. Invoice Discounting helps maintain your businesses growth without financial strain and significantly improves the chances of being awarded more purchase orders in the future.
How does TDF support businesses with Invoice Discounting?
TDF offers multiple Invoice Discounting solutions, which also factor in time frames and waiting periods accordingly.
How much does TDF charge for Invoice Discounting?
Each application is assessed individually and the rates are calculated based on a number of factors such as; the value of the invoice, how long the money will be out and how reliable is your client.
What documents do I need to apply for Invoice Discounting?
To qualify for Invoice Discounting, you will need to fill in an application which requires specific information, in addition you will need to provide some of the following documentation:
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Identity documentation
Purchase order
Supplier quotes
Bank statements
Tax compliance certificate
Is your Business eligibility for Invoice Discounting?
In order to be eligible for Invoice Discounting, you need to have a confirmed Invoice from a creditworthy customer and a viable business plan, Finally, the end buyer should be able to pay the full amount due on time within the specified timeframe.
Does Invoice Discounting require good credit?
No. The funds advanced to you are specifically to deliver on a confirmed Invoice. So the money advanced to you is secured by the value and confirmation of the Invoice. However when it comes to riskier contracts, we do take credit history into consideration during our application process to ensure we are satisfied that no additional significant risk factors are present.
How quickly can I get funding?
TDF aims to approve the funding within 72hrs. However, the timeframe for receiving the actual funds may vary. Typical timeframe for funds to be released can take between a few days to a week, depending on process and the complexity of the order.
What costs are covered by Invoice Discounting?
Invoice Discounting mainly covers your working costs required to keep the business operational. Invoice Discounting can also advance up to 70% of your invoice due.
How does Invoice Discounting affect cash flow?
Invoice Discounting significantly improves your cash flow by advancing your business a portion of the invoice you have presented, ensuring that your business does not face cash shortages at critical times.
Is Invoice Discounting a loan?
Invoice Discounting is not a loan. it is a financial advance based on a confirmed Invoice, this means that repayment is typically tied to your invoice being paid by your client.
Can TDF help me invoice clients?
Yes, if you have completed a job and need to send the client an invoice, TDF team will help you prepare the invoice and send it out. This service is only available for those who have pre qualified for invoice discounting. If you have not been approved for invoice discounting, but still require assistance preparing and sending the invoice, TDF will connect you with a TDF partner that will be able to assist you.
HOW TDF
FUNDING WORKS
Get funding approval within 72hrs, in just 4 easy steps!
01
Submit Application
There are three main ways to apply for Funding
First option: Fill in our easy form online application, and our TDF support team will be in touch to finalise your application.
Second option: Call TDF and set up an appointment to visit our offices.
02
Application processing
Once you have submitted your application. TDF support team will verify that you have correctly submitted all the required documentation.
If you have not submitted everything, our TDF support team will assist you accordingly.
03
Verification Process
Once TDF has confirmed that all your documentation has been properly submitted, TDF will start the vetting / verification process.
Our vetting / verification process involves verifying all the documentation that you have submitted and making sure that all documents are legal and legitimate.
04
Funding Approval
Once TDF has verified your application. A final decision will be made regarding your approval for funding.
You will recieve an update within 72hrs, confirming if your funding application has been approved or not.
